Loadstar Capital Kk · TSE:3482
Loadstar Capital Kk — FY2024 Earnings Presentation
38 slides from Loadstar Capital Kk's earnings presentation, February 2025
Slide 1: Fiscal Year Ended December 31, 2024 Earnings Briefing
Fiscal Year Ended December 31, 2024 Earnings Briefing Loadstar Capital K.K. Securities Code: 3482 February, 2025 © Loadstar Capital ALL RIGHTS RESERVED
Slide 2: Real estate and technology opening up the future market
不動産とテクノロジーの融合が 未来のマーケットを切り開く 1
Slide 3: Table of Contents
Table of Contents １．Overview of FY2024 P. 3 ２．Business Overview by Segment P. 12 ３．Business Plan for FY 2025 P. 21 ４．Our Strengths and Characteristics P. 24 ５．Company Profile P. 31 ６．Real Estate Market Analysis P. 34 © Loadstar Capital ALL RIGHTS RESERVED 2
Slide 4: Overview of FY2024
1 Overview of FY2024 © Loadstar Capital ALL RIGHTS RESERVED 3
Slide 5: Business Highlights
Business Highlights • Achieved the medium -term management plan targets of 30 billion yen in sales and 10 billion yen in pre-tax profit. • Achieved 12 consecutive fiscal years of revenue and profit grow th since the company's founding. (billions of yen) % Y-o-Y Performance Net sales 34.4 ＋19.8％ All
Slide 6: Topics of FY2024
Topics of FY2024 1. Acquisition of six luxury resort hotels operated by Hiramatsu. Loadstar has increased hotel investments in response to inflation and strong demand from travelers to Japan. As part of this strategy, Loadstar acquired the hotels. Hiramatsu continues to operate the hotels. 2. Buildi
Slide 7: Consolidated Sales and Consolidated Profit before income taxes
Consolidated Sales and Consolidated Profit before income taxes • All businesses progressed favorably, with consolidated net sales reaching 34.4 billion yen (up 20% year-on-year) and consolidated pre-tax profit reaching 10 billion yen (up 41% year-on-year), marking the 12th consecutive fiscal year of
Slide 8: Cost Control and Human Capital Investment
Cost Control and Human Capital Investment • Continue appropriate cost management with a focus on cost-effectiveness. For the time being, we do not anticipate a significant increase in costs. • We prioritize 'investment in people' and strive to provide appropriate compensation based on performance an
Slide 9: Consolidated Statements of Income
Consolidated Statements of Income • As a result of appropriate budget control, profits were achieved largely as planned. • Along with revenue and profit growth since the company's founding, EBITDA and EPS have also increased. FY2024 Results FY2023 Results % of Net Progress vs. % of Net （billions of
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet • The annual acquisition amount of real estate as inventory reached a record high, and the balance of real estate as inventory rose to an all-time high of 81.5 billion yen. • With ample liquidity on hand, we will continue to make aggressive growth investments in fiscal yea
Slide 11: Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows • CF from operating activities was negative due to the increasing balance of real estate as inventory. However, we are appropriately managing cash and the cash position is robust. • CF from financing activities has also remained stable due to the good relationsh
Slide 12: Return to Shareholders
Return to Shareholders Basic Policy • Loadstar strives to improve corporate value and shareholder profit by expanding business performance. Dividend Policy • We will provide stable and continuous dividends. The dividend payout ratio for the fiscal year ending December 2024 is 17%. 70.0 Dividends per
Slide 13: Business Overview by Segment
２ Business Overview by Segment © Loadstar Capital ALL RIGHTS RESERVED 12
Slide 14: Real Estate Investments: Real Estate X Tech
Real Estate Investments Real Estate X Tech to Open Up a New Market Real Estate Investments Real Estate Tech CORPORATE FUNDING ASSET MANAGEMENT CROWDFUNDING Investment in real Management of Japan’s first real estate using internal investment real estate estate crowdfunding funds, and property on beha
Slide 15: Corporate Funding Business Results: Real Estate Investment
Corporate Funding Business Results 【Real Estate Investment】 • As a result of the sale of 8 properties, net sales increased by 11% y -o-y to 27.9 billion yen. • The trend of workers returning to offices became clear, and investment demand, mainly from domestic institutional investors and business cor
Slide 16: Corporate Funding Business Results: Real Estate Leasing
Corporate Funding Business Results 【Real Estate Leasing】 • Hotels performed well and offices remained steady, resulting in net sales of 2.9 billion yen, up 20% year on year. • Similarly, the rental profit margin has also improved significantly. Net Sales（Real estate leasing） （billions of yen） 2.9 1Q
Slide 17: Corporate Funding Business Results: Hotel Operations
Corporate Funding Business Results 【Hotel Operations】 • The Corporate Funding Business (Hotel Operations) records operating revenues from six luxury resort hotels acquired from Hiramatsu. • Hotel operation revenue was 1.65 billion yen, and hotel operation costs were 1.46 billion yen (including appro
Slide 18: Corporate Funding Business Results
Corporate Funding Business Results • Focusing on hotel investments in response to overseas demand and inflationary environment, the balance of real estate as inventory reached its highest level ever. • The unrealized gain, which is the difference between the book value and the external appraisal val
Slide 19: Asset Management Business Results
Asset Management Business Results • The strengthened AM business has shown results, with the largest number of acquisition and sales transactions ever. We also received mandates from new investors and performed our first hotel project as part of the AM business. • As a result, AUM increased by 40% f
Slide 20: Real Estate Investments: Real Estate X Tech
Real Estate Investments Real Estate X Tech to Open Up a New Market Real Estate Investments Real Estate Tech CORPORATE FUNDING ASSET MANAGEMENT CROWDFUNDING Investment in real Management of Japan’s first real estate using internal investment real estate estate crowdfunding funds, and property on beha
Slide 21: Crowdfunding Business Results
Crowdfunding Business Results • OwnersBook marked its 10th anniversary since launch and achieved its highest annual investment amount (13.4 billion yen). • By building trusted services and focusing on improving satisfaction of existing investors, the high demand situation continues. • As a result, n
Slide 22: Business Plan for FY 2025
３ Business Plan for FY 2025 © Loadstar Capital ALL RIGHTS RESERVED 21
Slide 23: Forecasts for FY2025
Forecasts for FY2025 • Revenue to increase by 39%, profit before tax to increase by 11%, and a dividend per share of 83 yen is planned, an increase of 18%. • We aim to achieve the 13th consecutive fiscal year of revenue and profit growth since our founding. • European and American investors have res
Slide 24: Real Estate Market Outlook for FY2025
Real Estate Market Outlook for FY2025 Overall Outlook • In the global city investment ranking for Q1-Q3 2024, Tokyo secured the top position. Osaka also maintained its place within the top 20.（ Reference ：JLL Investment Market Summary Q3 2024) • With the relaxation of Japanese visas for Chinese visi
Slide 25: Our Strengths and Characteristics
4 Our Strengths and Characteristics © Loadstar Capital ALL RIGHTS RESERVED 24
Slide 26: Value Creation in the Corporate Funding Business
Value Creation in the Corporate Funding Business ■Why are we targeting mid-sized offices in the Tokyo's 23 wards for investment? Office conditions for small and medium- New supply of mid-sized buildings Positioning sized enterprises (SMEs) • 99% of the companies in Tokyo are SMEs • Mid-sized buildin
Slide 27: Competitive Advantage of Corporate Funding Business
Competitive Advantage of Corporate Funding Business Building Establishing a future stable business financial base foundations Information gathering Acquisition Increase value Solid track record • Track record of property acquisitions totaling 170 billion • Over 20 years of real estate • Construction
Slide 28: Asset Management Business
Asset Management Business Synergy with Recurring Corporate subscription Funding business model Business Acquisition Management Sale • Formulating investment • Enhancing property strategies value to maximize returns for investors • Formulating exit • Sourcing properties strategies • Supervising PBM •
Slide 29: Crowdfunding Market and Growth Potential
Crowdfunding Market and Growth Potential • Market is expected to continue to grow as the number of lending-type/FTK crowdfunding business operators is increasing every year. • The global market is expected to grow to approx. 124 trillion yen by 2032 (based on the rate as of December 31, 2024). （出典：P
Slide 30: OwnersBook Features 1
OwnersBook Features 1 Loan-Type Loan-Type Loans secured by real estate Loan Real Lending (Mortgage) estate ¥800~1,200 ¥1,000 million ~1,500 million OwnersBook Interest/ Investment Investors Equity ¥200~300 million Principal Equity-Type Dividend/ Non-recource Principal loan Investment Real ¥600~900 e
Slide 31: OwnersBook Features 2
OwnersBook Features 2 Borrowers’ Investors’ demand demand OwnersBook Lending Investment Interest/ Dividend/ Principal Principal Financing collateral Small inves tm ent Little time & effort is Quick origination capacity amounts required Faster originations No price changes We can provide loans Easy i
Slide 32: Company Profile
5 Company Profile © Loadstar Capital ALL RIGHTS RESERVED 31
Slide 33: Company Profile (as of December 31, 2024)
Company Profile（as of December 31, 2024） Company Name Loadstar Capital K.K. Address Prime Ginza Yanagidori Building, 1-9-13 Ginza, Chuo-ku, Tokyo, Japan Founded March 14, 2012 Representative Tatsushi Iwano, President Number of Directors 7 (including three outside directors) Number of Officers Approx
Slide 34: Shareholders
Shareholders • The ratio of domestic institutional investors has increased due to the increase in market capitalization. • We performed more interviews with institutional investors. • We also continue to attend briefings for individual investors, with keeping in mind the stock trading volume. Ratio
Slide 35: Real Estate Market Analysis
6 Real Estate Market Analysis © Loadstar Capital ALL RIGHTS RESERVED 34
Slide 36: Real estate investment from overseas
Real estate investment from overseas • There were numerous hotel transactions across Japan, and the real estate investment volume in Japan has increased significantly compared to the same period previous year. • In 2025, it is expected that there will be continuous active transactions due to recove
Slide 37: Vacancy Rates
Vacancy Rates • The vacancy rate in Tokyo's five central wards is showing a downward trend due to the return to office trend. • Tokyo's office vacancy rate maintains at a considerably lower level compared to the UK and US. Overall vacancy rate for Tokyo’s 5 major wards Vacancy rates in Japan, UK, a
Slide 38: Disclaimers
Disclaimers ⚫ The contents of this document are being supplied to you solely for your information and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published in whole or in part, for any purpose without our prior permission. This document is being